LETTER: Wall Street's ripple effect

The wealthy are not the only ones being hurt by the Wall Street problems. Most of us, who have a pension plan, 401K, IRA, annuity, m
Sandusky Register Staff
May 24, 2010

 

The wealthy are not the only ones being hurt by the Wall Street problems. Most of us, who have a pension plan, 401K, IRA, annuity, money market account or any other type of investment for retirement, are affected. The losses in the stock market and reduction of interest rates adversely affects all of these investments for the future.

Those who have none of these investments are not immune. The business is the owner's investment. As these investments deteriorate, it affects jobs.

In spite of the class warfare our politicians preach, the wealthy, the middle class and the poor are all dependent on each other. Just look at how the down turn is affecting everyone. While we may not agree with the rate of trickle when the economy is prospering, it is a fact of life, especially in small business, where most our jobs are created.

The more we produce, the better the economy. We have more jobs and more money to spend on the products and services created by the jobs.

Does it make any sense to you that taxing the wealthy more will encourage them to invest their money into creating jobs? Look at Ohio, one of the most heavily taxed states. Who is moving here to build businesses?

Does anyone believe that more government will do anything but create more government jobs to eat up the tax dollars before they trickle back down to the citizen paying the taxes?

Decide which candidate -- for any office -- offers restraint in spending and has a record of challenging the excessive spending in Congress. Vote for the lesser of two evils.

If you do not heed this advice, you might get exactly what you do not want, a socialist society, and another great depression.

Ronald G. Kaufman

Sandusky